Report: Rémy Cointreau Set To Name Luxury Marketing Veteran Eric Vallat As CEOSeptember 11, 2019
Rémy Cointreau is reportedly finalizing plans to name Eric Vallat to succeed Valerie Chapoulaud-Floquet as CEO, according to Bloomberg. Chapoulaud-Floquet said in July that she plans to step down by the end of the year.
Vallat, who previously served as CEO of Rémy Cointreau’s flagship Cognac brand, Rémy Martin, has most recently been head of fashion and accessories at luxury brands house Richemont. Richemont announced yesterday that Vallat would be leaving to pursue an outside opportunity. In his previous time at Rémy, Vallat reported to Chapoulaud-Floquet and managed the Rémy Martin and Louis XIII brands through a period of solid growth in the U.S. and China.
Rémy Cointreau’s total sales slipped 3% to €223.2 million ($250.3m) on an organic basis in the three months through June, marking the first quarter of the company’s fiscal year. The company’s core House of Rémy Martin enjoyed an increase, however, with sales up 5.5% to €161.1 million ($180.7m).—Danny Sullivan
Update: Rémy Cointreau has confirmed that Vallat will succeed Chapoulaud-Floquet.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.